BIL — State Street SPDR Bloomberg 1-3 Month T-Bill ETF

BIL Price Performance — Growth of $10,000

Value of a $10,000 investment in BIL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

BIL Drawdown

The "underwater" chart: BIL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) operates within the US Bonds - Government category, which ETFValuer tracks with 22 funds in total. Issued by State Street Investment Management, the fund has accumulated assets under management of $47.1 billion while trading at a price of $91.63. It holds an overall rank of #298 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 57.0 out of 100. The fund charges an expense ratio of 0.1353% and currently offers a dividend yield of 3.85%. The substantial asset size and high dividend yield suggest significant investor adoption relative to the fund's cost structure. Despite its large scale, the fund's ranking places it in the lower half of the broader universe of tracked ETFs.

Over the most recent trading day, the fund posted a return of +0.01%, which extended to a weekly gain of +0.08% and a monthly increase of +0.29%. The three-month return accelerated to +0.90%, followed by a six-month return of +1.79%, indicating a steady accumulation of value over the intermediate term. Year-to-date performance stands at +1.98%, while the one-year return reached +3.79%. This upward trajectory continues into the longer term, with the three-year return totaling +14.24%. The data shows a consistent pattern of positive returns across all measured horizons from one day to three years.

The fund carries a volatility label of Very Low, which aligns with its classification as a short-term treasury instrument. Beta data is not available for this fund, preventing a direct comparison of its market sensitivity to the broader index. The Sharpe ratio is recorded at -6.06, suggesting that the risk-adjusted return profile has been negative relative to the risk-free rate over the measurement period. Despite the negative Sharpe ratio, the maximum drawdown has been minimal at -0.01%, indicating extreme stability during market downturns. This combination of very low volatility and negligible drawdowns implies the fund prioritizes capital preservation over aggressive growth, even as the Sharpe ratio reflects the low return environment typical of short-term bills.

AI-generated summary based on the data on this page.

BIL Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 74.3% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how BIL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With BIL

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with BIL's top 10 — AGG overlaps most, holding 1 of the same companies as BIL's top 10 (74.3% of BIL's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

BIL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 9.9M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $47.1B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: BIL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

BIL Performance History

How BIL Compares to Other US Bonds - Government ETFs